The leading cryptocurrency by market cap sold off 2% within an hour, dropping to as low as $63,890 after trading above $66,000 earlier in the session. Altcoin majors such as solana (SOL), cardano (ADA) and Chainlink's token (LINK) sold off 2%-4% over the same time frame.
Tech megacap stocks like Nvidia have been struggling as investors rotate capital to smaller cap stocks. Joel Kruger noted that if the stock market selloff deepens, it might stall the crypto rally.
"Even in such a case, there will be plenty of reason to be wanting to buy bitcoin as a flight to safety asset, and plenty of reason to be wanting to pick up other crypto assets into dips on their potential for massive innovation," Joel Kruger.
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